Tadawul All Share Index (TASI) fell on Sunday, dropping 18 points (0.2%) to close at 11,593. The index opened 9 points above the previous close, then fluctuated for several hours before declining for the remainder of the session. In general, 6 out of 21 sectors closed in the red zone, while 75 shares fell and 174 rose. Banks (-0.4%), Energy (-0.4%), and Materials (-0.3%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-0.8%), Aramco (-0.5%), and Saudi Fransi (-2.6%) were the major contributors. The trading activity witnessed a decrease in volume and value of -25% and -33%, respectively, to reach 169mn shares and SAR3.3bn in value traded.
Market Wrap International:
Global equities gained last week as cooling U.S. inflation and strong technology earnings lifted confidence that the Federal Reserve could begin easing policy in the coming months. Investor sentiment improved further as Treasury yields stabilized and risk appetite returned across sectors, though weaker consumer confidence kept caution in play. In Europe, equities tracked Wall Street higher, supported by resilient PMI data and solid corporate results, but gains were constrained by persistent cost pressures and uncertainty over future ECB rate moves. Asian markets also advanced, aided by signs of additional policy support in China, a softer dollar, and improving regional trade data, though foreign outflows and currency weakness in some markets tempered the momentum.